If it's 10 frames per second you would definitely notice.
You know. It is 25 frames per second for PAL and 30 frames per second for NTSC when you look at your television.
Also, one more useful thing to note.
It's 20 frames per second regardless of whether or not you have selected
smooth mode. (Press F1 when playing)
This assumes however that the game does not lag.
If you play the game through the editor, test play, you can press F2 and see the FPS count next to the application name.
If you have
smooth mode selected it will run with 40 FPS, otherwise 20 FPS. Either way there will be 20 frames per second with the wait command.